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SBA, FDIC team up for new small biz training course

Small businesses will soon have a new weapon in their arsenal – a free, online training curriculum for new and aspiring business owners. Sponsored by the Federal Deposit Insurance Corp. and the U.S. Small Business Administration, the program is known as “Money Smart for Small Business.” The training curriculum provides an introduction to day-to-day business… Continue Reading SBA, FDIC team up for new small biz training course

Colorado bank failures could top $1 billion

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Banking regulators say five Colorado bank failures this year could cost the nation’s deposit insurance fund slightly more than $1 billion. Federal Deposit Insurance Corp. spokesman Greg Hernandez says that represents a fifth of the $5 billion in overall losses to the fund from bank failures through July 22. The Denver Post reports (http://bit.ly/ql9quy) that… Continue Reading Colorado bank failures could top $1 billion

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FDIC seeks delay in bonuses for top bank execs

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Federal regulators have proposed making top executives at large financial firms wait at least three years to be paid half of their annual bonuses, a move designed to cut down on risky financial transactions. The Federal Deposit Insurance Corp. voted Monday to advance the rule, which builds on more general requirements in last year’s financial… Continue Reading FDIC seeks delay in bonuses for top bank execs

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Federal officials have closed United Western Bank of Denver. The Federal Deposit Insurance Corp. said  that Raleigh, N.C.-based First-Citizens Bank & Trust Co. is assuming all deposits of the bank and agreed to buy essentially all its assets. While the bank did not have any branches in Colorado Springs, it had eight branches in Denver,… Continue Reading Feds shut down United Western Bank

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For a while, it seemed as though regulatory red tape would prevent Central Bancorp from opening a local bank branch. Central already had wealth management, mortgage, title and insurance operations at its downtown office, but had long wanted to add full-service banking to its array of services. Although the Federal Deposit Insurance Corp. wouldn’t authorize… Continue Reading One year later, Central Bank and Trust is on a roll

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Bank profits up $12.5 billion year-over-year

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Third-quarter banking results showed much better news on almost all fronts than during the past few years. Year-over-year bank profits have skyrocketed in the third quarter at the nearly 8,000 insured commercial banks and savings institutions that report to the Federal Deposit Insurance Corp. Although net profits totaled $14.5 billion, compared to $2 billion reported… Continue Reading Bank profits up $12.5 billion year-over-year

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FDIC approves temporary unlimited coverage

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Today, the Federal Deposit Insurance Corporation approved temporary unlimited insurance coverage for noninterest-bearing transaction accounts. For accounts such as traditional checking accounts – for individuals or businesses – the coverage is effective Dec. 31 through the end of 2012. This insurance is separate from, and in addition to, coverage provided for deposits on other accounts.… Continue Reading FDIC approves temporary unlimited coverage

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FDIC embarks on foreclosure prevention plan

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In an effort to help borrowers avoid foreclosure through loan modification, the Federal Deposit Insurance Corp. this week initiated its own foreclosure prevention plan. Dubbed the Foreclosure Prevention Initiative, the agency notified commercial and savings financial institutions it supervises that its goal was to stop foreclosure rescue scams that promise false hope to consumers at… Continue Reading FDIC embarks on foreclosure prevention plan

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